Wall Street was largely unchanged before the opening bell a day after retreating from record highs as technology slipped and companies in the oil sector tumbled in tandem with oil prices, the Associated Press reports.
Futures for the S&P 500 were up less than 0.1% today, while futures for the Dow Jones Industrial Average were flat. Oil prices were retreating for the fourth straight day and have declined about 7% this week.
Morgan Stanley shares rose 2% after the New York investment bank topped Wall Street’s third-quarter revenue and profit targets on the strength of a red-hot stock market and its wealth management segment.
Trucking company J.B Hunt soared after it easily beat sales and profit projections, even as both declined from a year ago. Investors were encouraged by the Arkansas company’s improved profit margins and sent shares up 7.4% before the bell.
United Airlines ticked up about 1.2% in extended hours trading after the carrier easily beat third-quarter profit forecasts and announced a $1.5 billion share buyback.
Oil slipped back into losses, with benchmark U.S. crude oil giving up 29 cents to $70.29 per barrel. Brent crude declined 30 cents to $73.95 per barrel.
The dollar inched down to 149.19 Japanese yen from 149.22 yen.
